EGLD Could Break Above $28 Soon as Technical Indicators Align

Coin Edition
Coin Edition

17 Sep 2023 2:10 PM

Crypto Tony predicted that EGLD’s price may retest a key support level briefly before entering into a leg up. Read more on CE....

  • Crypto Tony predicts a brief dip in the price of EGLD to retest the key support level at $25.81, followed by a sharp buyback triggering a long position.
  • EGLD's price has risen 3.88% in the past 24 hours and is valued at $26.04 at press time, contributing to its positive weekly streak of 8.70%.
  • From a technical standpoint, EGLD's price dipped below $25.81 but recovered with bulls pushing it back above the mark.
  • If EGLD closes today's trading session above $25.81, it may attempt to break above the 50-day EMA line at $27.19 and flip the $28 resistance into support.
  • However, if EGLD closes below $25.81, it may correct to the immediate support at $24.

The sentiment of the article is mostly positive, highlighting the potential for EGLD's price to rise and the positive weekly streak.

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